Report Digest

Global Ophthalmic Lens Market: Introduction

Among the key factors driving the global ophthalmic lens market is the rising application of bronchoscopy. Owing to the rising cases of cataract and refractive errors, the demand regarding ophthalmic lenses for the improvement of vision is rising consistently. Moreover, there has been a significant rise in people with weak eye sight due to spending excessive time in front of computer and mobile screens. These factors are foreseen to be responsible behind the growth of global ophthalmic lens market.

Global Ophthalmic Lens Market: Novel Developments

A well-known international firm, Nikon Corporation has launched a huge range of optical lenses keeping user’s demand in mind. The firm has improved in the lens technology field. It has launched See series lenses which represent a high end premium product range of ophthalmic coatings and lenses. The series include various types of optical lenses, along with progressive lenses, single vision lenses, and extended focus lenses. The progressive lenses range is an excellent option for correcting presbyopia. It has even launched a huge arrange if alternatives to provide super optical performance, and improved comfort and aesthetic in a single lens.

The global ophthalmic lens market is prognosticated to be highly fragmented due to presence of several players in it. Several manufacturers, researchers, and clinicians are concentrating on providing advanced methods to reduce the infection casued because of wearing contact lenses. Some of the leading players operating in global ophthalmic lens amkret are Essilor, Johnson & Johnson Services, Inc., The Cooper Companies Inc., Bausch Health, HOYA Corporation, and Novartis AG.

Global Ophthalmic Lens Market Dynamics

Initiatives by Government to Strengthen Market Demand

The rising steps taken by the government to spread awareness regarding the advantages and developments in the ophthalmic lenses are foreseen to fuel the growth in global ophthalmic lens market in the upcoming years.

Various key players are investing in research and development activities to come up with advanced and distinct products. There are making efforts by conducting campaigns and advertising for the awareness within the masses, ophthalmologists, and optometrists. World Health Organization has carried out certain initiatives for decreasing the avoidable blindness. It consistently conducts the workshop for the same, spreading the knowledge about the new developments and technologies among the people. It thus, helps the ministries of health in gaining universal health goals. All such factors are propelling the growth of global ophthalmic lens market in span of few years.

Rising Permanent Vision Correction Option Hampers Market Growth

However, one of the major hindrances in market growth is popularity of vision correction surgeries which are performed by minimally invasive methods. This, increasing demand for permanent vision correction methods is likely to pull down market growth in future.

North America to Lead Global Ophthalmic Lens Market

Geographically, the global ophthalmic lens market is segmented majorly into North America, Asia Pacific, Europe, and Rest of the World. Among these, North America region accounts for the maximum market share in ophthalmic lens industry. This is credited to the emergence of several major firms in the region, along with adoption of innovative lens technology. Nations for example, Canada and the US are the major contributor in global market revenue for ophthalmic lenses in the mentioned region. Furthermore, Asia‐Pacific is also estimated to flourish rapidly with a decent CAGR, propelled by the advent of various small and big lens makers in the region.

Forces defining present and estimated future state of the competitive landscape

Technological developments

Value chain and stakeholder analysis

The regional analysis covers:

North America

Latin America

Europe

Asia Pacific

Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

A detailed analysis of key segments of the market

Recent developments in the market’s competitive landscape

Detailed analysis of market segments up to second or third level of segmentation

Historical, current, and projected future valuation of the market in terms of revenue and/or volume

Key business strategies adopted by influential market vendors

Outline of the regulatory framework surrounding and governing numerous aspects of the market

Growth opportunities in emerging and established markets

Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.